GSA Capital Partners LLP Acquires Shares of 27,644 ACV Auctions Inc. (NASDAQ:ACVA)

GSA Capital Partners LLP purchased a new stake in ACV Auctions Inc. (NASDAQ:ACVA - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 27,644 shares of the company's stock, valued at approximately $562,000.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of ACV Auctions by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 1,419 shares of the company's stock valued at $29,000 after acquiring an additional 884 shares in the last quarter. MCF Advisors LLC lifted its holdings in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company's stock worth $30,000 after buying an additional 765 shares in the last quarter. Park Place Capital Corp lifted its holdings in ACV Auctions by 34.1% in the 3rd quarter. Park Place Capital Corp now owns 2,779 shares of the company's stock worth $56,000 after buying an additional 706 shares in the last quarter. Amalgamated Bank lifted its holdings in ACV Auctions by 18.0% in the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company's stock worth $93,000 after buying an additional 782 shares in the last quarter. Finally, Verdence Capital Advisors LLC acquired a new position in ACV Auctions in the 3rd quarter worth $206,000. Institutional investors and hedge funds own 88.55% of the company's stock.

Insiders Place Their Bets

In other news, Director Brian Hirsch sold 61,666 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $18.63, for a total value of $1,148,837.58. Following the completion of the sale, the director now directly owns 9,239 shares of the company's stock, valued at approximately $172,122.57. This represents a 86.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Andrew Peer sold 1,795 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $21.00, for a total transaction of $37,695.00. Following the sale, the vice president now directly owns 62,956 shares of the company's stock, valued at approximately $1,322,076. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 709,426 shares of company stock worth $13,792,090. Insiders own 8.50% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barrington Research reiterated an "outperform" rating and issued a $23.00 price objective on shares of ACV Auctions in a report on Monday, November 4th. Raymond James assumed coverage on shares of ACV Auctions in a report on Friday, September 27th. They issued a "market perform" rating and a $22.00 price objective on the stock. Piper Sandler boosted their target price on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. JMP Securities boosted their target price on shares of ACV Auctions from $21.00 to $24.00 and gave the stock a "market outperform" rating in a research report on Tuesday, September 17th. Finally, Needham & Company LLC boosted their target price on shares of ACV Auctions from $23.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.63.

ACV Auctions Stock Performance

NASDAQ ACVA traded down $0.09 on Wednesday, hitting $21.37. The stock had a trading volume of 980,700 shares, compared to its average volume of 1,249,363. ACV Auctions Inc. has a one year low of $12.84 and a one year high of $22.23. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of -45.47 and a beta of 1.59. The company's 50-day moving average is $19.42 and its two-hundred day moving average is $18.50.

ACV Auctions Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company's marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green's seller assurance service for against claims related to defects in the vehicle.